What is Lending Tree: What you need to know about Lending Tree!
The company was founded twenty-two years ago in 1996. Its headquarters are situated in Charlotte, North Carolina, United States. Its founder and CEO are Doug Lebda. The company is listed on NASDAQ as TREE S&P 400 component. Its functions include online lending exchange, connecting prospective consumers with a plethora of lenders and acts as a level playing ground for credit partners sweating it out for business. It doesn’t directly give out loans; on the contrary, it acts as a broker.
Lending Tree History
Fresh from college, Doug Lebda started as an auditor & consultant with Pricewaterhouse Coopers in Pittsburgh. As any other young adult wishing to own a place of his own, he set out looking for a mortgage. The frustrating procedure of visiting an endless number of banks and vetting mortgage offers for their suitability and viability sparked the idea for a common platform for making the whole process of finding the best loan offers easier.
This lacuna gave birth to CreditSource USA in 1996, which later came to be known as Lending Tree. By the close of the century in 1998, Lending Tree established its presence in the online realm of finance and the likes.
In May 2003, it was acquired by InterActiveCorp (IAC). The very next year Lending Tree acquired HomeLoanCentre.com and established Lending Tree Loans. By the end of the first decade of the 21st century, the Lending tree broke free from IAC to join hands with new entrant Tree.com. It was an umbrella company encompassing a host of brands & businesses involved in giving financial services & real estate subletting by 2015. Tree.com was refurbished back to the original Lending Tree logo focussing on its core team which now boasts of a variety of financial services such as business, student and personal loans, debt consolidation, free credit scores. The Pandora’s Box also boasts of its core mortgage products mortgage refinance, home equity and home loans.
Business Products and Diversifications
Its range of prospective customer includes first-time homebuyers looking for a mortgage to entrepreneurs looking for business loans to finance their hotshot ideas for a start-up. They truly have something for every budget and need. Since a plethora of lenders are out there vying for business, it ultimately translates into a win-win situation for customers. The product catalog leaves the customer a little spoilt for choice with the following in the offing:
- Mortgage refinance
- Home equity loans
- Credit cards
- Reverse mortgages
- Mortgage calculators
- Banking products
- Personal loans
- Auto loans
- Free credit score
- Student loan refinance
- Business loans
It’s a one-stop shop out there catering to almost all your business and finance needs.
Frequently Asked Questions
- What credit score is needed to get a loan from Lending Tree?
The minimum requisite credit score is 640-750
- How long does it take to get your loan sanctioned from Lending Tree?
The entire process beginning from application to the amount finally reflecting in your account usually takes seven days or in some cases a little longer.
- Which are the best reasons to site while applying for a personal loan?
Some reasons could be, to help finance one’s home remodeling project, improving one’s credit, to pay for one’s wedding ceremony, for paying off credit card debt, to create an emergency fund, or to start a side business.
- Does Lending Tree charge any “upfront fees”?
No, Lending Tree does not charge any for matching prospective buyers with lenders.
Lending Tree will not ask for money for approving, guaranteeing or “ensuring” a loan.
Its website goes by the name www.lendingtree.com.
The toll-free number is as follows; 1-800-813-4620. So, the next time you have your head all scrunched up in your hands worrying over financing your dream home, you know which numbers to punch in on the dial pad!